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Mortgage and Real Estate Glossary ~ Z

Zoning ordinance

The division of land into residential, commercial, industrial and rural districts. Zoning laws, which came about in the 1920s, serve to protect the public’s safety. Zoning laws restrict the size of a lot, of building’s height and how a property can be used. In general, a residential zone is broken down into single-family, multifamily and mobile home districts. Commercial areas are divided into retail, office and wholesale space. The government will not give you any money to compensate for a loss in your property’s value that may result from a zoning ordinance.
See: Due-on-sale clause

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